The financial situation of Senegal has reached a critical level. The country has just registered the lowest rating ever attributed to its sovereign debt, a degradation that will make access to financing on the financial market extremely difficult. This is at least the opinion of Ibnou Sougoufara, president of SENGOV’RISK, the association of risk managers. M. and Sougoufara expressed his deep concern at this unprecedented degradation. “There was des B, peut-être B moins, mais vraiment, rentrer dans le C, c’est quelque chose que je n’ai jamais vu avant”, he declared. This rating, according to him, is lower than those he has been able to observe even for the corporations with which he has worked. The direct consequence of this bad rating is the envelope of borrowing costs.
Moody’s: “On est dans la banqueroute”, warns the SENGOV’RISK: “On est dans la banqueroute” is the name of the currency in Senegal.
